The trading range of GBP/AUD from 1.84700 - 1.8170 is valid and it may be ready to breaks down by the height of its for 300pips.

Looking on the trading range by using Daily Chart. We see that the seller is stronger than buyer by analyzing the candle's body.

Right now, the price is pull back toward the EMA 5, 13 because of the temporary support at MA 50 and FIB 23.6.

If the price cannot breaks up to previous resistance at 1.84700, it indicates the seller are stronger than buyer at this time.

In trading forex, anything can happen. This pair is very volatile, so I decide to play safe by testing .01k lots for this sell plan.

1 comment:

Tom Hoang said...

This plan is closed because the price of GBPAUD is at 1.8000 as target.

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